Morales Reaffirms State Control of Energy

President-elect of Bolivia — left-wing cocalero leader Evo Morales — who will take office in January next year, has reaffirmed his determination to take control of the country’s energy industry but says he will respect the assets of international oil companies operating in Bolivia. Morales campaigned on the issue of nationalizing the country’s natural resources, in particular hydrocarbons. Spanish oil company Repsol YPF, which is Bolivia’s largest foreign investor with around $1.2 billion assets, has confirmed that it plans to remain in the country and continue with its operations.